Polar Power Stock Set to Reverse Split on Tuesday, November 19th (NASDAQ:POLA)

Polar Power, Inc. (NASDAQ:POLA)’s stock is set to reverse split before the market opens on Tuesday, November 19th. The 1-7 reverse split was announced on Friday, November 15th. The number of shares owned by shareholders will be adjusted after the market closes on Monday, November 18th.

Polar Power Stock Down 13.1 %

POLA opened at $0.46 on Friday. Polar Power has a 12-month low of $0.32 and a 12-month high of $0.95. The business has a 50 day moving average of $0.47 and a 200-day moving average of $0.44. The stock has a market cap of $8.08 million, a price-to-earnings ratio of -0.98 and a beta of 0.94.

Polar Power (NASDAQ:POLA) last posted its quarterly earnings results on Wednesday, August 14th. The utilities provider reported $0.03 earnings per share for the quarter. Polar Power had a negative return on equity of 52.52% and a negative net margin of 55.56%. The business had revenue of $4.66 million for the quarter.

Analyst Ratings Changes

Separately, StockNews.com started coverage on Polar Power in a report on Sunday, November 10th. They set a “sell” rating for the company.

Hedge Funds Weigh In On Polar Power

A hedge fund recently raised its stake in Polar Power stock. Bard Associates Inc. raised its stake in Polar Power, Inc. (NASDAQ:POLA) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,009,123 shares of the utilities provider’s stock after acquiring an additional 210,000 shares during the quarter. Bard Associates Inc. owned approximately 17.14% of Polar Power worth $1,435,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 26.10% of the company’s stock.

Polar Power Company Profile

Polar Power, Inc designs, manufactures, and sells direct current (DC) power generators, renewable energy, and cooling systems in the United States and internationally. The company offers DC base power systems, DC hybrid power systems, DC solar hybrid power systems, and mobile power systems. Its DC power systems are available in diesel, natural gas, LPG/propane, and renewable fuel formats.